It's like properties. The Council Rates will show a "valuation" for rates purposes. We all know that council valuation thing is like way below "market" price. To put in in FMG that NTA is like the council rate. $4.22
Market Quoted $3.70
"fair" price Should be https://**.st/stocks/au/materials/asx-fmg/fortescue-metals-group-shares
About $5.58
I have bought properties below Council Rate "valuation" before and those properties made me the most money.
There is no doubt. Cutting through all the noise. It's not like FMG is engaged in derivatives like Lehman brothers and a "hole" is way too deep and the company is going under. The company is healthier than before.
FMG is a simple business just run the trucks run the trains drilling, blasting. No write-down risk in terms of assets. There are no holes in their financials with Debt under control.
The only thing is the price of the macro market? Makes no sense @ all. Wish I had more money to buy this but I am already quite fully loaded with my cash.
Iron ore price, page-7250
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Last
$17.34 |
Change
0.520(3.09%) |
Mkt cap ! $53.38B | |||
| Open | High | Low | Value | Volume |
| $17.31 | $17.51 | $17.00 | $309.6M | 17.18M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 300 | $17.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.35 | 28897 | 5 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |